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HUD SOMA Survey.(US Department of Housing and Uraban Development)(Survey of Market Absorption)(Brief Article)

Economic Opportunity Report, February, 2004

HUD SOMA Survey. The U.S. Department of Housing and Urban Development (HUD) is seeking comments on its Survey of Market Absorption (SOMA) of new multi-family housing units. (SOMA) provides the data necessary to measure the rate at which new rental apartments and new condominium apartments are taken off the market--usually by being rented or sold--over the course of the first 12 months following completion of a building.

The data is collected at quarterly intervals until the 12 months conclude, or until the units in a building are completely sold. The purpose of the SOMA is to determine whether the public's housing needs are being met. The deadline for applications is April 12. Contact: Ronald Sepanik, HUD, 708-1060, ext. 5887. Feb. 10 FR, p. 6320.

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